TORONTO, Dec. 16, 2025 /PRNewswire/ - PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103), a leader in North American energy infrastructure development and asset ownership, proudly announces that its 3.15 MW DC hybrid solar plus energy storage project (the "Project") in Buffalo, New York has passed two major permitting approvals, including a Waterfront Consistency Review and a Zoning Map Amendment, enabling the Project to go before the Zoning Board of Appeals for an Area Variance.  The project ...

Core Insights - The successful launch of the DeStarlink Genesis-1 satellite by Orbit AI marks a significant step towards establishing a decentralized low-Earth orbit network for global connectivity and AI data processing [2][5][7] - PowerBank Corporation is collaborating with Orbit AI to develop solar-powered solutions for the digital economy, focusing on advanced solar modules and thermal control technologies essential for future satellite operations [4][5][7] Industry Overview - The global satellite market is projected to reach USD 615 billion by 2032, with additional opportunities in orbital infrastructure, in-orbit data centers, and satellite data services amounting to a combined market potential of USD 115.64 billion over the next decade [3] - The Orbital Cloud initiative aims to provide sovereign, censorship-resistant connectivity and in-orbit compute services, leveraging solar energy for continuous operation [2][4][7] Company Developments - PowerBank's contributions will include advanced solar energy systems and adaptive thermal control solutions, reflecting a strategic shift towards digital asset and data center infrastructure [5][7] - The collaboration with Orbit AI is part of PowerBank's broader strategy to expand into high-growth digital infrastructure markets, with plans for further satellite deployments anticipated between 2026 and 2030 [6][7]

Welcome to the Green Stock news brief for Tuesday, December 9th. Here are today's top headlines. Rocket Labs Neutron rocket has successfully completed qualification testing of its innovative Hungry Hippo fairing, which stays attached to the first stage during launch and landing for full reusability.A world first for a commercial rocket. This milestone advances the development of Neutron, the world's largest carbon composite launch vehicle with a 13,000 kilogram payload capacity ahead of its first scheduled ...

Core Insights - PowerBank Corporation has signed a lease agreement for a 5 MW AC hybrid solar plus battery energy storage project in upstate New York, known as the NY-Cloverdale Rd project, which is expected to qualify for state incentives [1][6] - The demand for battery storage is increasing due to the rapid growth of wind and solar power, with a 90% reduction in battery costs over the past 15 years, driving significant global sector growth [2] - The project aims to contribute to New York's goal of achieving 10 GW of distributed solar and 6 GW of energy storage by 2030, with New York leading the U.S. in community solar capacity [6] Company Overview - PowerBank Corporation is an independent renewable energy project developer focusing on distributed and community solar projects in North America, with over 100 MW of completed projects and a development pipeline exceeding 1 GW [5][8] - The company develops solar and Battery Energy Storage System (BESS) projects that cater to various off-takers, including utilities and residential customers, maximizing returns through a diverse project portfolio [8] Project Details - The NY-Cloverdale Rd project will operate as a hybrid community solar plus energy storage project, allowing local residents to benefit from reduced electricity costs without needing to install equipment [4] - The company is currently initiating the interconnection process and will proceed with permitting and financing upon receiving necessary approvals [3]

Core Insights - PowerBank Corporation has announced the safe harbor of 15 late-stage distributed solar and energy storage projects in New York, which are expected to generate approximately 67 MW DC of solar power and 11 MWh of energy storage, enough to power around 7,500 homes [1][3][7] - The projects are eligible for a 30% Investment Tax Credit and potential bonus adders, amounting to $65 million in tax credit eligibility [1][7] - PowerBank aims to complete the permitting process and secure financing for the construction of these projects, with positive interconnection studies already secured for 14 of the 15 projects [2][6] Project Details - The projects vary in size from 500 kW DC to 7 MW DC for distributed solar and from 1.2 to 8 MWh for battery energy storage systems [3] - Once operational, the projects will function as either community solar or net-metered projects, providing economic savings and environmental benefits to local residents [4][5] Company Background - PowerBank Corporation is a leader in renewable energy project development, focusing on distributed and community solar projects in North America, with a development pipeline exceeding 1 GW and over 100 MW of completed projects [6][10] - The company is positioned to deliver reliable renewable energy solutions through strategic partnerships and institutional-grade development capabilities [6] Industry Context - The projects contribute to New York's goal of achieving 10 GW of distributed solar and 6 GW of energy storage by 2030, with the state leading the U.S. in community solar capacity [7]

Core Insights - PowerBank Corporation has executed equipment procurement agreements for 15 late-stage distributed solar and energy storage projects in New York, expected to provide approximately 67 MW DC of solar power and 11 MWh of energy storage [1][2] - The total construction value of these projects is estimated at US$168 million, with potential tax credits valued at US$65 million [2][4] - The projects are designed to meet the IRS Physical Work Test before the July 4, 2026 deadline, ensuring eligibility for federal Investment Tax Credits under the One Big Beautiful Bill Act of 2025 [1][4] Project Details - The projects will power the equivalent of 7,500 homes and are part of New York's goal to achieve 10 GW of distributed solar and 6 GW of energy storage by 2030 [1][6] - PowerBank has established strong relationships with Tier 1 suppliers to secure necessary equipment, with commercial operation expected over the next several years, subject to permits and financing [3][5] Investment Tax Credits - Investment Tax Credits (ITC) for solar projects have been available since 2006, providing a 30% tax credit for qualifying installations, with additional bonus adders possible [4] - The One Big Beautiful Bill Act specifies that projects starting construction before July 4, 2026, will remain eligible for these tax credits, which is crucial for the financial viability of the projects [4][5] Company Background - PowerBank Corporation is an independent renewable energy project developer focusing on distributed and community solar projects in North America, with a development pipeline exceeding 1 GW and over 100 MW of completed projects [8]

Core Insights - PowerBank Corporation is advancing its strategic partnership with Intellistake Technologies by participating in the closed beta testing of IntelliScope, an enterprise AI suite designed to enhance project evaluation in renewable energy [1][5][6] Group 1: Partnership and Development - The partnership marks a significant milestone, with PowerBank providing internal beta testing for the IntelliScope Enterprise Hub, which was technically delivered recently [1][3] - The IntelliScope Enterprise Hub aims to integrate decentralized AI agents into structured workflows, focusing initially on renewable energy development [2][4] Group 2: Technological Impact - The beta release of IntelliScope is intended to make project evaluation faster, smarter, and more transparent, allowing PowerBank to leverage data-driven intelligence for site analysis and regulatory monitoring [4][5] - The ongoing beta testing will focus on performance validation, user feedback, and refining AI agent outputs, with plans for future modules targeting other data-intensive sectors [6] Group 3: Company Background - PowerBank Corporation specializes in renewable and clean energy project development, particularly in distributed and community solar projects across Canada and the USA [7][8] - The company has a development pipeline exceeding one gigawatt and has completed renewable energy projects with a total capacity of over 100 megawatts [8]

Core Insights - PowerBank Corporation is collaborating with Orbit AI to launch the Orbital Cloud, a space initiative that integrates solar energy with satellite technology for advanced digital infrastructure in low-Earth orbit (LEO) [1][2][3] Strategic Vision - Orbit AI is developing DeStarlink, a decentralized low-Earth orbit network, and DeStarAI, a suite of solar-powered orbital AI data centers, forming a unified infrastructure for global connectivity and in-orbit compute services [3][4] - The combined markets for orbital satellites, in-orbit data centers, blockchain verification, and solar-powered digital infrastructure are projected to exceed $700 billion over the next decade [4][6] Market Opportunity - The Orbital Cloud project intersects multiple rapidly expanding markets, representing a potential growth opportunity of over $700 billion driven by AI, blockchain, renewable energy, and digital sovereignty demands [9][12] - The global satellite market is projected to reach USD $615 billion by 2032, with in-orbit data centers expected to grow from USD $1.77 billion in 2029 to USD $39.1 billion by 2035 [6][12] Investment and Financial Overview - PowerBank plans to make an initial investment of USD $50,000 in Orbit AI, with an option to invest up to USD $10 million for a 20% equity stake, contingent on final agreement terms [9] - The company has a potential development pipeline of over one gigawatt and has developed renewable energy projects with a combined capacity of over 100 megawatts [11] Key Milestones - The launch of the DeStarlink Genesis-1 satellite is expected in December 2025, which will include an Ethereum wallet and blockchain node for verified transactions in orbit [6][13] - Full constellation rollout and commercialization of Orbital Cloud services are planned for 2027-2028, with autonomous network governance expected by 2028-2030 [13]

Core Insights - PowerBank Corporation has announced a partnership with Orbit AI to launch a space initiative called the Orbital Cloud, integrating advanced technologies for a new digital infrastructure in orbit [1][2] Investment Details - PowerBank plans to invest an initial $50,000 in Orbit AI, with an option to increase this to $1 million for a 2% equity stake, and potentially up to $10 million for a 20% equity stake, pending approval [3] - The transaction is expected to be finalized before the DeStarlink Genesis-1 launch, scheduled for December 2025 [3] Project Timeline - The Genesis-1 launch is planned for Q4 2025, with expansion to 5-8 orbital nodes in 2026, full constellation rollout and commercialization of Orbital Cloud in 2027-2028, and achieving autonomous large-scale orbital operations by 2030 [4] Partnership Contributions - PowerBank will provide advanced solar energy systems and adaptive thermal controls to support the satellite's future "Execution Layer," aligning with its strategy for clean power in digital asset and data center infrastructure [5] Market Growth Potential - The combined markets for orbital satellites, in-orbit data centers, blockchain verification, and solar-powered digital infrastructure are projected to exceed $700 billion over the next decade [5] - The orbital infrastructure market is expected to grow to $21.3 billion by 2029, up from $13.5 billion in 2024, with a CAGR of approximately 9.6% [6] - The global satellite market is projected to expand to $615 billion by 2032 [6] - In-orbit data centers are expected to grow from $1.77 billion in 2029 to $39.1 billion by 2035, while satellite data services are projected to increase from $12.16 billion in 2024 to $55.24 billion by 2034, with a CAGR of approximately 16.3% [7]

Financial Data and Key Metrics Changes - For the first quarter of fiscal 2026, the company reported revenue of CAD 19.2 million, an increase of approximately 27% compared to CAD 15.1 million in the same period last year [11][12] - Gross margin improved significantly from 27% to 45% year-over-year [12][27] - Net income for the quarter was CAD 1 million or CAD 0.03 per basic share, compared to a net loss of CAD 26.5 million or CAD 0.87 per basic share in the same quarter of fiscal 2025 [13] Business Line Data and Key Metrics Changes - Development fee revenue for Q1 fiscal 2026 was CAD 3.4 million, a notable increase from zero in the same period last year, reflecting higher development activities [11][12] - Revenue from EPC services increased slightly to CAD 11.9 million, up approximately 1% from the prior year [11] - Independent Power Producer (IPP) revenue grew to CAD 3.8 million, an 18% increase from CAD 3.3 million in the prior fiscal year [5][12] Market Data and Key Metrics Changes - The company is currently managing projects representing approximately 104 MW of solar and 44 MWh of battery energy storage expected to reach notice to proceed within 12 months [4] - The company has announced several projects in the U.S. and Canada, including a fully operational 3.8 MW solar power plant in New York and a 4.99 MW battery energy storage system in Ontario [6][9] Company Strategy and Development Direction - The company is focusing on expanding its IPP portfolio and advancing its development pipelines, particularly in battery storage project development [15][18] - The company is also entering the data center market and exploring environmentally friendly solutions for data centers powered by solar energy [20][21] - A strategic development agreement has been established with Intellistic Technologies to integrate AI and blockchain technologies into the company's operations [23] Management's Comments on Operating Environment and Future Outlook - Management noted that the renewable energy industry has faced significant headwinds but sees a clearer path forward due to supportive government policies [16][17] - The demand for battery storage is expected to increase due to rising electricity prices and the need for power reliability [32] - The company remains optimistic about the future of battery storage and solar energy, citing technological advancements and cost reductions [20][32] Other Important Information - The company has secured favorable financing terms and continues to maintain a strong cash position of approximately CAD 13.3 million [15] - The company is actively engaging with local communities to address concerns related to battery storage projects, which has caused some permitting delays [30][31] Q&A Session Summary Question: Factors driving the company's gross margin increase from 27% to 45% - Management attributed the increase to effective field management and procurement strategies, noting that the company has shifted to domestic procurement to maintain cost advantages [26][27] Question: Delays impacting key projects and outlook - Management acknowledged permitting delays for the SFFO6 project and interconnection challenges for other projects, but remains positive about the battery storage market due to increasing demand and electricity prices [29][32] Question: Progress in monetizing and securing safe harbor for US pipelines - Management indicated that the company is focusing on project-specific long lead items to meet new guidelines and ensure timely project delivery [34][35]